The session on Thursday brought some stabilization also observed on other European stock exchanges and worse sentiment at the end of the trade. This time, medium and small companies performed better, and JSW once again stood out among the large ones with its gigantic turnover.
WIG20 decreased by 1.68 percent, to 2,009.56 points, WIG was lower by 1.07 percent, which brought it to the level of 60,999.8 points. mWIG40 gained 0.08 percent, and sWIG80 was higher by 0.67 percent. The turnover exceeded PLN 2.66 billion, of which PLN 2.1 million was related to the blue chip.
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Russia’s military invasion of Ukraine has been underway for the eighth day, and stock exchanges are still in a state of shock caused by aggression, sanctions, and a reorientation of international trade. more and more companies do not see a partner in Russia and the local market.
The volatility wave passes through the various assets one by one, hitting first the stock market, then the precious metals. currencies – which suffers from, among others Polish zlotyto finally speed up on raw materials and goods. Thursday was another day of high oil pricesand reports of the likely agreement of Western countries with Iran, which was once the second largest oil producer, brought the price of the raw material down by only a few percent. It is similar with gas prices or groceries.
In addition the head of the Fed, Jerome Powell, spoke with a hawkish message before the congress committee on Wednesday and indicatedthat he considers the US interest rate hike by 25 bp in March to be appropriate. European indicators are now over 10 percent. lower than this year’s highs due to growing concerns about the hawkish bias in the monetary policy of central banks and about rising inflation.
“Nobody knows how it will end, and we are in an environment of maximum uncertainty, which requires serious consideration by investors” – said Peter Garnry, head of capital strategy at Saxo Bank AS, quoted by PAP.
In terms of industries, the WSE saw a significant decline in the clothing sector (-3.94%), media (-3.68%) and games (-3.49%). fuel (1.65%) in the lead.
On the WSE, large companies once again drew the most attention, which clearly became the subject of greater interest in foreign capital and, perhaps, speculative capital. The exclusion of Russian assets from international investments may be the reason for such a dynamic transfer of global assets to the Polish market, wrote Kamil Cisowski from DI Xelion.
On the WSE, the indices fell around half a percent, accelerating the declines in the last hour of trading, just like the rest of Europe and the Americans already trading. While in the US indices began to lose between 0.5 and 1 percent after a positive opening, the European core markets were giving back more than 2 percent, which Warsaw indices are again shown to be relatively stronger.
Experts pay attention to the turnover, which since the beginning of the war has been almost twice as large in the wide market. On Thursday, trading in JSW shares once again stood out in this respect (- 4.51%), which amounted to PLN 436.6 million and was higher than yesterday’s 392 million. In JSW’s debut on the WSE, the turnover of shares at a price of approx. PLN 140 exceeded PLN 1 billion.
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The shares of CD Projekt fell the most (-5.52%), and the company announced that it would withdraw from selling games in Belarus and Russiawhich were responsible for 3.7 percent, respectively. and 5.4 percent annual revenue.
A greater sell-off also hit Allegro (-5.16 percent), despite the fact that the company already has approval for the acquisition of the Mall group.
Again below 9,000 PLN are LPP shares (-4.52 percent). Energy companies have recorded corrections to the recent increases. Retailers and the financial sector were also under the line, including Pekao (-2.43%), which showed good financial results. KGHM’s rate was relatively stable (-0.14%), and Asseco’s rate was neutral (0.0%).
Increases only on the fuel side of PKN Orlen (2.12%) and PGNiG (2.31%), the price of which is at PLN 7 – not seen since April 2021. Cyfrowy Polsat was slightly above the mark (0.07%). )
In the second line, it is worth noting, apart from Kernel, increases in DataWalk (10.53%) and Benefit (9.82%), and greater drops in Alior (-6.35%) and PKP Cargo (5.86%). In the case of Alior, it includes further consequence lower profits shown in the income report.
The coal industry experienced declines on Thursday. Bogdanka’s share price fell by 4.81 percent, Bumech was down 8.28 percent. Famur gained 0.17 percent. and decreased CoalEnergy (4.46%) – as the only Ukrainian company listed on the WSE.
The entire WIG-Ukraine index gained 16.78 percent. The biggest contributor to this was the growth of the largest Kernel (37.36%), which erased all Wednesday’s declines. Astarta (15.35%) and Agroton (11.4%) also grew significantly. On the one hand, investors evaluate the possibility of these companies operating in the new reality and the possible losses of their assets during the war, on the other hand, they see record prices of goods produced by food companies and their potential impact on operating results.
The stars of yesterday’s increases of several dozen percent they were on the defensive today. Thursday’s session on these companies was won by supply and only Wojas (6%) recorded the fourth consecutive upward session. Lubawa’s share price fell by 7.11 percent. with a turnover of PLN 94 million, Zrembu by 10.48%, Protektor by 17.95%. Food producers with long expiry dates also had a weaker day, but Pamapol retained the status quo and Polish Pasta lost 20.83 percent.
